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Article: Group Long Distance Announces the Signing of a Letter of Intent to Acquire HomeAccess MicroWeb, Inc. from Quentra Networks, Inc.
- Article from:
- Business Wire
- Article date:
- January 24, 2001
CopyrightCOPYRIGHT 2001 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Business Editors
POMPANO BEACH, Fla.--(BUSINESS WIRE)--Jan. 24, 2001
Group Long Distance, Inc. (Pink Sheets:GLDI) ("Group Long Distance") today announced the signing of a letter of intent to acquire all of the issued and outstanding securities of HomeAccess MicroWeb, Inc. ("HomeAccess"), a subsidiary of Quentra Networks, Inc. (formerly Coyote Networks, Inc.) ("Quentra"), for a purchase price of $4,100,000.
The purchase price would be payable by the delivery at closing of $100,000 in cash and 200,000 shares of a new Series A Preferred Stock. The Series A Preferred Stock would have a liquidation preference of $20 per share, would not pay any ...
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